TC Energy And Global Infrastructure Collaborate Via $5.2B Sale of a 40% Equity Interest in Columbia Gas and Columbia Gulf
Portfolio Pulse from Benzinga Newsdesk
TC Energy Corporation has announced a deal to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission systems to Global Infrastructure Partners for $5.2 billion. The deal implies an enterprise value to a comparable EBITDA multiple of approximately 10.5 times TC Energy's base 2023 outlook.
July 24, 2023 | 11:42 am
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The sale of a 40% stake in Columbia Gas and Columbia Gulf by TC Energy to Global Infrastructure Partners could potentially free up capital for TC Energy and impact its financial outlook.
The sale of a significant stake in two of its systems could potentially free up capital for TC Energy, which could be used for other investments or to strengthen its balance sheet. This could positively impact the company's financial outlook and potentially its stock price.
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